Some other countries where you can use the US Dollar

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Some other countries where you can use the US Dollar

The US Dollar is flying high and only today breached the 1.489 mark against Sterling. Not great news for those looking to travel to the States from the UK. The US Dollar is the most important currency in the world but what is little known is that you can use the ‘Greenback’ in a number of different countries outside of the United States. We take a look at some of them.

Ecuador

Ecuador has been in the news lately for its rather rocky relationship with the USA but surprisingly the US Dollar is the official currency of the South American nation. The country has a troubled history with currencies as it began using the Peso, and then swapped to the Franco and back to the peso. In the 1990’s the Peso’s value flat lines causing a near economic collapse which in turn led the Ecuadorean government to adopt the US Dollar as its official currency, making it an ideal place for US citizens to visit as no foreign exchange is required.

Panama

The Dollar sits side by side with the Panamanian Balboa as the countries official currency.  Panama accepts the U.S. dollar “at par” (a rate of 1:1). This means that travellers don’t have to worry about exchanging money in foreign airports or dealing with fluctuating exchange rates, a reason why the South American nation is so popular with US expats.

British Virgin Islands

It may be a British territory but the Virgin Islands don’t use the Pound. Instead they use the US Dollar to make travel between its sister island the US Virgin islands a lot easier, and it helps make the territory one of the world’s leading tax havens.

Turks and Caicos Islands

Another British territory these beautiful islands are also a global tax haven and a very popular destination for both tourists and expats alike. The island was once overrun with pirates but now it is peaceful except for the bankers wheeling and dealing.

Vietnam

Vietnams official currency is the Dong but ever since the Vietnam War Dollars have been unofficially accepted as payment in the Southeast Asian nation. Be aware that the State Bank of Vietnam has begun a concerted effort to limit the amount of US Dollars getting into the country. Restaurants have even been fined for listing prices in USD. What this means for a U.S. traveller is still unknown, but many travel resources recommend relying on the Vietnamese dong.

Cambodia

The American Dollar is king in Cambodia. Using Dollars makes life in the Asian nation exceptionally cheap with travellers being able to live on less than $50 a day and you may never need to convert to the local currency of the Riel. When in the county it always pays to have a few Bucks in your pocket.

Nicaragua

This Central American nation has its own currency, the Cordoba, but pretty much everywhere accepts and even prefers payment in U.S. Dollars. Don’t be surprised if the price goes up the minute you pull out a stack of greenbacks, though: According to some experts, shopkeepers may charge you a bit more when paying in U.S. dollars. Your best bet may be to carry small bills in both currencies, especially outside of your resort.

Richard Martin
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After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.